John Howe & Co

A Yorkshire-based property expert is warning home buyers that a government-backed energy solution may prevent them securing a mortgage.

John Howe, partner at John Howe & Co, is warning homeowners and sellers to check if their property has spray foam insulation in the roof and to take advice as soon as possible if they suspect it may.

As many as 250,000 householders may face mortgage issues as moisture levels rise in spray foam insulated homes.

Previously an acceptable form of insulation under the Government’s Green Homes Grant, spray foam insulation is formed through ‘closed cell spray foam’, which is adding additional weight to supporting roof timbers. The problem is that by sealing up the roof space this can lead to poor circulation which in turn can lead to an increase in condensation leading to rotting timbers in the roof supports.

Many high street lenders and most equity release providers are often no longer willing to lend money on spray foam insulated properties despite the Government previously providing incentives for homeowners to install the energy saving solution. If a lender is reluctant to lend on the property then this would lead to it being down valued when put on the market.

The Government scheme, which closed in March 2021, saw many homeowners take advantage of grants, allowing them to claim back a significant proportion of energy-saving work carried out to their property.

John said: “I urge homeowners and anyone selling a property to seek advice to ensure that their property’s energy performance certificate has been checked. If you are one of the unlucky households who were encouraged to obtain this form of insulation then I would strongly encourage you to seek advice from a surveyor or competent building professional as to how to future protect your property and more importantly its value.

“For anyone buying a property, conveyancing lawyers will be able to recommend a surveyor who can assist in identifying whether or not there is a problem with the property which will potentially save time and money and highlight any future issues with selling the home. It is often better to be proactive when selling your home and try and remedy any potential pitfalls before marketing it.”

ENDS

NEWS RELEASE: ISSUED ON BEHALF OF John Howe & Co

CONTACT: Caroline Walker on 01325 363436

Notes to editors:

Established in 1994, John Howe & Co is a specialist and independent firm of solicitors. We offer a comprehensive range of legal advisory services to private individuals and businesses across many diverse sectors.